Compounding Pharmacies Market Scope
Compounding pharmacies are pharmacies that create drugs tailored to the requirements of individual patients by combining, altering or mixing active pharmaceutical ingredients of drugs. It is working on introducing new formulations effective in treating numerous illnesses. It is prepared under prescription from physicians. Compounding includes mixture of two or more drug ingredients in diverse proportions. Rise in the Hormone Replacement Therapy will help to boost global compounding pharmacies market.
According to AMA, the Global Compounding Pharmacies market is expected to see growth rate of 5.1% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Compounding Pharmacies market throughout the predicted period.
AmerisourceBergen (United States), Rx3 Pharmacy (United States), Agbi’s Sterile Compounding Pharmacy LLC (United States), B. Braun Medical Inc. (United States), Cantrell Drug Company, Inc. (United States), Belle Sante Diagnostic & Therapeutic Institute Pvt. Ltd. (India), Village Sterile Compounding Pharmacy (United States), Imprimis Pharmaceuticals, Inc. (United States), Institutional Pharmacies Of Louisiana LLC (United States), Lorraine's Pharmacy (Canada) and Fresenius Kabi AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are McGuff Sterile Compounding Pharmacy Services, Inc. (United States), Panaceutics Inc. (United States), Pencol Compounding Pharmacy (United States), Fagron (Netherlands), ITC Compounding Pharmacy (United States), SCA Pharmaceuticals (United States) and Wedgewood Pharmacy (United States).
Segmentation Overview
The study have segmented the market of Global Compounding Pharmacies market by Type (Oral Medication [Capsules, Tablets, Suspensions, Lozenges, and Others], Topical Medication [Creams, Gels, Ointments, and Others], Mouthwashes and Suppositories), by Application (Medication for Adults, Medication for Veterinary, Medication for Children and Medication for Geriatric) and Region with country level break-up.
On the basis of geography, the market of Compounding Pharmacies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Rise in the Hormone Replacement Therapy and Increase in the Number of Dispensed Prescriptions
Market Growth Drivers:
Increasing Pharmaceuticals and Healthcare Speeding’s and Growing Popularity of Compounded Drugs
Challenges:
Strengthen Government Regulations
Restraints:
High Price of Equipment Required For Compounding Medicine and Lack of Trained Workforce
Opportunities:
Innovation in Sub-Therapeutic Areas Including Bio-Identical Hormone Replacement Therapy and Huge Demand for Anti-Ageing Products
Market Leaders and their Expansionary Development Strategies
On 3rd January 2018, AmerisourceBergen Corp. a Wholesale pharmaceutical distribution and services company has acquired H.D. Smith. The deal is established for 815 million dollars.
On 10th December 2018, B. Braun Medical Inc. has installed innovative macro and micro APEX® Compounding System at Texas Children’s Hospital in Houston, Texas. It is designed for facilities that need in-house compounding capabilities and incorporates a large user interface, 26-lead preassembled transfer sets, and dual-drive filling technology with automated delivery as low as 0.2 mL.
Key Target Audience
Compounding Pharmacies Providers, Pharmaceutical Companies, Government Regularity Bodies, Government and Private Research/Consultancy Firms, Consulting Firms and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.